On Friday, February 21, an international credit rating agency S&P Global Ratings (S&P) upgraded Latvia from ‘A’ to ‘A+’ level with a stable outlook. Agency’s assigned ‘A+’ credit rating ensures historically highest credit rating level since 1997, when credit rating was assigned to the Republic of Latvia for the first time.

On Friday, February 21, the Financial Action Task Force (FATF) announced that Latvia has established a strong and robust financial crime prevention system and will not be subject to "enhanced supervision" or included in the so-called "greylist".

“The ambitious work on adjusting the regulation of financial sector, as well as its supervision and control, has paid off! The decision not to be the subject to enhanced supervision will serve as an incentive for us to continue our work aimed at economic development and supporting business. Credit institutions are provided with all the prerequisites to continue to work with a clear awareness of specific risks for Latvia and to contribute to the growth of our country,” says Jānis Reirs, Minister of Finance.

On Wednesday, 29 January, Minister of Finance Jānis Reirs met with the spokesman for the U.S. Department of the Treasury Mr Geoffrey W. S. Okamoto. During the meeting, the achievements in the economy and the financial sector in Latvia were discussed, as well as the future prospects of the field.

On Monday, February 4, Japanese credit rating agency R&I reaffirmed its “A-” foreign currency issuer rating on the Republic of Latvia. The outlook remains stable.